AutoCanada Inc. (TSE:ACQ) Receives C$23.50 Average Target Price from Brokerages

Shares of AutoCanada Inc. (TSE:ACQ) have been given an average rating of “Hold” by the nine analysts that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is C$23.00.

A number of brokerages recently commented on ACQ. Atb Cap Markets downgraded AutoCanada from an “outperform” rating to a “sector perform” rating in a research report on Friday, May 3rd. National Bankshares cut their target price on AutoCanada from C$24.00 to C$22.00 and set a “sector perform” rating for the company in a research note on Friday, May 3rd. Cormark set a C$35.00 target price on AutoCanada in a research note on Tuesday, March 19th. BMO Capital Markets cut their target price on AutoCanada from C$23.00 to C$21.00 in a research note on Monday. Finally, Acumen Capital cut AutoCanada from a “speculative buy” rating to a “hold” rating and cut their target price for the stock from C$24.50 to C$21.50 in a research note on Friday, May 3rd.

AutoCanada Stock Performance

Shares of AutoCanada stock opened at C$21.00 on Monday. AutoCanada has a one year low of C$15.14 and a one year high of C$27.54. The company has a market cap of C$495.81 million, a price-to-earnings ratio of 10.19, a PEG ratio of 0.30 and a beta of 2.60. The company has a debt-to-equity ratio of 396.08, a quick ratio of 0.25 and a current ratio of 1.04. The business’s 50 day moving average price is C$24.00 and its 200 day moving average price is C$22.35.

AutoCanada (TSE:ACQ) last announced its quarterly earnings data on Thursday, March 7th. The company reported C$0.69 EPS for the quarter, topping analysts’ consensus estimates of C$0.56 by C$0.13. AutoCanada had a return on equity of 10.23% and a net margin of 0.78%. The firm had revenue of C$1.48 billion for the quarter, compared to the consensus estimate of C$1.43 billion. On average, research analysts predict that AutoCanada will post 3.0424469 EPS for the current year.

Insider Activity

In other news, insider EdgePoint Investment Group Inc. acquired 1,200 shares of the company’s stock in a transaction dated Monday, April 22nd. The stock was acquired at an average cost of C$23.95 per share, with a total value of C$28,740.00. Over the last ninety days, insiders bought 34,650 shares of company stock valued at $885,855. 4.70% of the stock is currently owned by corporate insiders.

About AutoCanada

AutoCanada Inc, through its subsidiaries, operates franchised automobile dealerships and related business. The company offers a range of automotive products and services, including new and used vehicles, vehicle leasing, vehicle parts, vehicle maintenance and collision repair services, and extended service contracts; and vehicle protection, after-market products, and auction services.